Vertis Environmental Finance and Azolla launch an exclusive partnership for EU ETS services & decarbonisation offering

Brussels, 13 March 2024

Vertis Environmental Finance, a leading EU carbon trading company, and Azolla Pte Ltd, the decarbonisation vertical of Synergy Marine Group, closed an exclusive partnership aimed at scaling up maritime Decarbonisation solutions. This strategic collaboration marks a significant milestone in the maritime industry’s efforts by simplifying environmental regulatory challenges and accelerating the decarbonisation process.

The alliance leverages Vertis’ 25 years of expertise in carbon markets and Synergy Group’s extensive network of 700+ vessels and experience in ship management to provide comprehensive services for monitoring, analyzing, and establishing compliance strategies, preparing owners to align with the EU Emissions Trading System (ETS) and upcoming global Decarbonisation regulations.

Mathavan Subbiah, Synergy’s CEO (Marine Services and Corporate Functions) said: “As a global leader in ship management, Synergy Marine Group is delighted to be joining forces with Vertis Environmental Finance. Our partnership harnesses Vertis’s market-leading carbon trading prowess together with our technical expertise which creates unique tailor-made decarbonisation strategies to our clients. The partnership projects long-term innovative environmental solutions for enhancing sustainable maritime operations.”

“This exclusive trading agreement portend a significant step forward in our collective commitment to offer a one-stop-shop for carbon compliance and extend our leadership in the carbon industry,” stated Gauthier Bily, CEO of Vertis Environmental Finance. “By combining our strengths and resources, we can empower shipping companies to navigate the complexities of environmental regulations while driving the green transition worldwide”.

With this strategic alliance, Vertis and Azolla will combine their capabilities in carbon trading and emission analytics via CASPER (Carbon Accounting Software for Periodic Emission Reporting) to provide integrated, high-quality, cost-efficient and tailored maritime decarbonisation services and expertise worldwide. “The procurement strategy of EUAs is often overlooked. Having a tailor-made strategy enables companies to reduce their compliance risk and financial exposure. That’s where our in-depth technical expertise and commercial carbon market insights comes toegther,” says Aditya Srivastava, Decarbonisation and Energy Efficiency Manager, Azolla.

“We aim to disrupt the ETS market by leveraging Vertis’ market-leading carbon trading expertise and Azolla’s emission analytics system. The process has been made transparent and convenient, especially for smaller companies to evaluate ETS exposure and procure carbon allowances strategically” says Kiran Shet, Business Head of Azolla.

Frederic Bouthiller, Head of Shipping at Vertis Environmental Finance concluded: “I truly believe that this partnership presents a remarkable opportunity for our two organizations, each specialized in distinct market segments, to join forces and forge an long-term alliance dedicated to support the shipping industry on its green transition journey”.

Mathavan Subbiah, CEO (Marine Services and Corporate Functions), Synergy Marine Group
Gauthier Bily, CEO, Vertis Environmental Finance
Kiran Shet, Business Head, Azolla
Frederic Bouthiller (left), Head of Shipping, Vertis Environmental Finance and Aditya Srivastava (right), Decarbonisation and Energy Efficiency Manager, Azolla at the signing ceremony.

About Synergy Marine Group
Headquartered in Singapore, Synergy Marine Group’s hallmarks are its through-life approach to asset management and ability to develop custom-designed thought partnership strategies with leading owners. Spanning across a network of 25 offices in 14 countries and employing more than 25,000 seafarers, Synergy manages a fleet of over 700+ vessels including the most complex LNG (including FSUs), LPG and vast 20,000+ TEU container ships, as well as oil and chemical tankers, car carriers and bulk carriers. With a strong focus on crew well-being, digitalisation and environmentally responsible policies, Synergy is at the forefront of transforming the ship management industry.

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About Azolla Pte. Ltd

Azolla Pte Ltd is a consulting company supporting owners and charterers in their Decarbonisation journey. Azolla provides one-stop-shop services from making a business case to project management to installation of EET’s and monitoring energy performance.

CASPER & Asset evaluation are the digital tools which provides cost-effective recommendations of technical, operational, market based measures and alternative fuel options to reduce emissions and achieve compliance.

About Vertis Environmental Finance:

Founded in 1998, Vertis was one of the pioneers in the carbon markets, helping companies to finance investments in emissions reductions. Today, Vertis is a MiFID II regulated financial institution that helps its business partners to understand and operate in the European Emission Trading System and to meet their compliance obligations in a cost-efficient way. Vertis has offices in Brussels, Madrid, Budapest and Warsaw and since 2021 is part of the STX Group.

Media contacts:

Vishal Srivastava, Group Head – Corporate Communications, Synergy Marine Group
+91 8754536564

Mathilde Poncelet, PR & Communication Manager, Vertis Environmental Finance